They never named their things and it become a ubiquitous blob (I swear they had a dating site but I looked and couldn't find it)
Their only UI is hidden behind the status landing page.
They could have made sperate websites with branding "by Facebook" redirected users to those new sites from the main page/menu. Instead it's completely. Monolayer/single stack. Not to say "this is wrong" (clearly it made many people lots of money up to this point, now those returns appear to be slowing)
The landing page is full of things to look at, but hard to "find the thing I want to do". In this sense splitting the main app and chat made a lot of sense (primary entry point is app launcher on the phone).
What it really needed was a way to organize the landing page around product listings. Ie: a second desktop. (This could already happen on users phones, though I suspect most people weren't based on what I've observed on family and friends)
That's also the only page I've ever seen Facebook let you use multiple accounts...